Magma is a decentralized liquid staking protocol built on the Monad Network that will issue gMONAD as its liquid staking token. The protocol is designing MEV infrastructure to maximize extractable value during block production on Monad. Magma plans to enable users to stake Monad tokens, retain liquidity via gMONAD, and earn staking and restaking rewards through an integration with Ether.fi. The team has established partnerships with a broad set of validators and DeFi primitives to support its launch and security posture. With a $3.9M seed raise, the company intends to further develop its liquid staking platform and MEV architecture. Founders David Mass and Meir Bank bring prior experience from Citibank and AngelDAO and say the project will launch on testnet before moving to mainnet, alongside a community points program.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2024